DBT Bureau
Bengaluru, 1 July 2025
National Mineral Development Corporation has cut the iron ore prices, the company said in an exchange filing. While it has cut prices of Baila lump ore by Rs 600 per tonne to Rs 5,700 per tonne, it has reduced the price of Baila fines by Rs 500 per tonne to Rs 4,850 per tonne.
Notably, NMDC had cut prices in June as well by Rs 140 to Rs 150 per tonne. NMDC’s ore pricing is considered as the bench mark of the key commodity in India, which is the main input for steel making.
NMDC operates in exploration and production of iron ore along with diamond, production and sale of sponge iron.
Globally, iron ore prices have been inching downward as steel making in China market remains soft. The global indices for iron ore (SGX & DCE) are trending lower owing to tepid demand.
